The Palatka daily news. (Palatka, Fla.) 1884-1888, 1887-03-19
B. 4 d.
The LATEST WALL STREET STORY.
Sale to the Stoyner-hes Syndicate What Mr.
suiie, Says Pushed TO Raise the Morsy.

more and Ohio Railroad to the Stayner-
/. Ives syndicate, forming the latest story
afioat. Concerning this corporation the
following details are given out this even
ing:
A deposit of 500. 900 has already been
paid. and the transfer Of the road tn the
purchasers will soon be made. The buy
ers are known only by their connection
with the purchase of the Cincinnati.
Hamilton and Dayton Railroad a yerr
ago. The hacker of these parties IL gem
orally understood Ia he Christopher
Meyer, a millionaire rubber manufactu-
rer of this city. Stayner il also an old
New Yorker. He was at one time Treas
urer Of the American Bank Note Com
pany. There are no other parties back
of the purchase of any importance. The
parties holding the option on the road at
first asked AN extension, but when Mr.
Garrett explained that such large
block ce,Ild not remain tied mp they with
drew their request.
SOME STORIES CORRECTED.
A prominent member of the Rich
mond Terminal syndicate makes the fol-
lowing statement The ruinors of dis
sension in the board of directors are alb
solutely unfouGded. and the utmost con-
fidence in President Alfred Sully pre-
walls among the members. and the exc
cutive committee recently appointed
was intended To and does harmonize all
the elements represented in the board. In
taking from President Garrett an option
tn purchase the control of the Baltimore
and Ohio railroad in behalf of the Rich
mond AMI West Point Terminal road,
Mr. Sully acted for the best interests of
that company ami with the knowl-
edge of all the members Of the
board. and the only hesitation on the
part of the Terminal people to conclude
the bargain with Mr.. Garrett was that
not sufficient time had been given to
make a thorough examination of the
property To he organized.
He made the further statement that il
was through Suliy that the company was
freed from all ENHANCEMENT. that it was
enabled to acquire Richmond and Dan
vile stock. of which more than AZ 900
shares ont OF its issue of 30 900 shares are
now owned by the Terminal: and that it
was owing tn his efforts that the control
Of the East Tennessee. Virginia and Geor-
gia has been acquired. So far from any evil
dence of dissatisfaction or discomfort be-
ing manifested by the stockholders. the
warmest expressions of confidence in the
President are constantly received.
MR.. sULLEY SAYS It's ALL RIGHT.
For the first times ince the Baltimore &
Ohio deal has been pending, Alfred Sui
ley to-day broke his silence so far as TO
say: II see that other parties claim To have
purchased the control of the Baltimore q
Ohio. think they have made a de-
posit ON account When the Terminal
Company decided not to exercise their
option, | told the Baltimore & Ohio peo-
Pile that while we unanimously desired
to combine our Terminal properties with
the Baltimore & Ohio property, yet we
could not ask them TO consider them
selves in any way bound To leave the
matter open. Therefore. if any disPosi-
ton has been made. il is perfectly proper
and right"
II is stated that the purchaser of the
Baltimore & Ohio road are busiiy en-
gagged in attempts To raise the balance Of
the first 81 600. 900 which il to lie paid on
Monday. II i also alleged that they are
mortgaging the property beforehand in
order to raise money, and that As soon a.
they can get control the disintegration of
the road will begin. \ sterling loan Of
800 900 on the Cincinnati. Hamilton
and Dayton stock is reported Ia have
been made To the syndicate. the money
f 10 be used in payment of the Baltimore
& Ohio stock. All other railroad ano
telegraph officials deny that they hav.
any interest in the deal. and ~ far an cal
be learned the purchase Is for speculative
purposes only.
ONE OF THE EFFECTS.
CHATTASoOGA, Tenn. March 18th.
Times says it has positive Information
that the Baltimore and Ohio Express
Company has acquired the express fran
chise over the East Tennessee. Virgins
and Georgia Railroad and all its connec
tons from the Southern Express Com
pany. II will take charge of the entir'
system within thirty days. The Time
says that this strongly signifies that tn
Bsltimore and Ohio has been absorbes
by the West Point Terminal as the latte
recently acquired the Fast Tennessee
Virginia and C,eorria Road